Dec, 31, 2023 — MEMBERS SOURCE CREDIT UNION is a federally insured state chartered credit union headquartered in MERRILLVILLE, IN with 3 branch locations and about $90.28 million in total assets. Opened 89 years ago in 1935, MEMBERS SOURCE CREDIT UNION has about 6,150 members and employs 22 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MEMBERS SOURCE CREDIT UNION |
|---|---|
| Address: (Main Office) | 8580 Virginia St MERRILLVILLE, IN 46410 |
| Phone: | (219) 756-4141 |
| Fax: | (219) 756-4120 |
| Website: | https://www.ms-cu.com |
| Branches: | 3 branch locations |
| Members: | 6,150 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68562 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1935 |
| Last Audited: | Sep 01, 2023 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $90,277,337 |
| CEO/Manager: | James E Falls |
| Chairperson: | Jeffrey Perz |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 3,679,953 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 31,230,511 |
| Unsecured Loans | 2,519,244 |
| Other Loans | 15,241,008 |
| TOTAL LOANS | 49,274,138 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -295,961 |
| Land And Building | 1,686,987 |
| Other Fixed Assets | 96,634 |
| NCUSIF Deposit | 788,231 |
| All Other Assets | 0 |
| TOTAL ASSETS | 90,277,337 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 28,116 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 497,670 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 10,480,981 |
| Regular shares | 38,987,527 |
| All Other Shares & Deposits | 28,854,384 |
| TOTAL SHARES & DEPOSITS | 78,322,892 |
| TOTAL LIABILITIES | 78,848,678 |
| Regular Reserve | 0 |
| Other Reserves | 246,632 |
| Undivided Earnings | 11,182,027 |
| TOTAL EQUITY | 11,428,659 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 90,277,337 |
| INCOME & EXPENSE | |
| Loan Income | 2,175,902 |
| Investment Income | 852,312 |
| Other Income | 439,094 |
| Total Employee Compensation & Benefits | 1,303,774 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 1,391,918 |
| Non-operating Income & (Expense) | -7,281 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 232,289 |
| Cost of Funds | 471,749 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 475,664 |
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